Reuters: Georgia May Hike 2018 Growth Forecast, Plans Eurobond Refinancing

Reuters: Georgia May Hike 2018 Growth Forecast, Plans Eurobond Refinancing

Georgia may increase its gross domestic product (GDP) growth forecast for this year, currently at 4.5 percent, as rising exports and inflows of foreign investment help support the economy, the country’s finance minister told Reuters.

Georgia is recovering from a decline in exports and steep devaluations in the currencies of its main trading partners, including Russia, which have depressed economic growth in recent years.

That recovery is gathering pace, with GDP increasing by 5.0 percent last year compared to the 2.2 percent growth seen in 2016. The economy expanded by 4.9 percent year-on-year in January-February this year.

“I think we may have a scenario when we will revise our own economic growth projection of 4.5 percent upwards. The possibility of such a scenario is pretty high.” Finance Minister Mamuka Bakhtadze told Reuters in an interview late on Thursday.

10.04.2018